SAN FRANCISCO--(BUSINESS WIRE)--Parsable
announced today that it has finalized a $40M Series C investment round,
led by Future Fund, for the purpose of bringing its Connected Worker
platform to more global enterprises.

Parsable’s enterprise SaaS platform already powers new agile business
processes for some of the world’s industrial giants, including Corteva
(formerly Pioneer DowDupont), Ecolab, Schlumberger, Silgan and Shell.
The platform, currently used in over 50 countries, combines “drag and
drop” process authoring, integrated “consumer-like” collaboration,
intuitive enterprise-grade mobile work execution, and a powerful
analytics and insights engine. Work can be triggered by other systems or
it can be scheduled. Through the platform, users execute sequential
processes and collect data inline as they work. Supervisors and managers
can measure work and hand-offs, minimize time gaps in execution,
eliminate bottlenecks and identify best practices. Additionally, rich
collaboration allows work teams to always be connected to both experts
and to one another. By collaborating with chat, pictures, video, and
group video calls, time delays in executing work are reduced and jobs
are done correctly by veterans and new employees alike.

For many years, knowledge workers have had access to applications and
business process software to eliminate paper, make them more productive,
and optimize work. Yet, deskless workers across all industries continue
to be stuck with paper-based workflows where data may never be available
for analysis. As work processes move towards continuous optimization
with data-driven decision making, data needs to be decision ready for
every KPI. Parsable’s Connected Worker platform makes it easy for work
teams, in concert with machines, to work effectively together. These
“human + machine” teams can deliver their best every time and management
can understand what changes need to be made to improve even further.

“We are now seeing an inflection point in how industrial companies
approach their work,” said Lawrence Whittle, CEO of Parsable. “For the
last 40 years, big batch orders and a focus on massive economies of
scale was the norm. Existing enterprise software had aligned with this
level of scale and complexity. However, we’re now seeing smart
manufacturers pivot to a more agile approach, moving towards smaller
batches and rapid production. Enterprise software needs to become mobile
first and more agile to meet these changing demands. Smart, empowered
and productive workers are the key to maintaining margins and
competitiveness for our customers. This new funding will allow us to
help many more companies embark on their Industry 4.0 digital
transformation. We are the first truly enterprise-class platform that
enables the breakthrough performance companies can achieve when humans
and machines work in harmony.”

Investor support for growing the footprint of Parsable’s operations to
serve more customers was strong, with existing Series B investors taking
their full allocation and new Series C investors bullish on the growth
of the Connected Worker space.

“Our approach as an investor is to identify a clear theme enabled by
technology that is changing large sectors of society,” said Barry
Eggers, founder and managing director of Lightspeed Venture Partners as
well as Series B and C investor at Parsable. “We identified the digital
transformation of industry — both human and machine processes, known as
Industry 4.0, as a clearly inevitable societal trend. Parsable has been
a standout for us in its ability to grow rapidly and serve a constantly
expanding need. We are delighted to support their next phase of growth.”

Existing industrial investors such as Airbus and Saudi Aramco also
participated in the round. Additionally, B37 Ventures, a global fund
backed by industrial corporations in 60 countries around the
world, joined the round.

“B37 invested in Parsable because they provide a path for companies to
harness the value of the Connected Worker in an environment where
digitized work has become a requirement,” said David Hite, managing
partner at B37 Ventures. “In essence, every employee using Parsable is a
‘connected IoT sensor’, ensuring that quality, compliance, and
efficiency is built into the work itself.”

Fueled by the market forces of Digital Transformation and Industry 4.0,
the “Connected Worker” space is rapidly becoming a recognized software
category.

About Parsable

Parsable helps the world’s largest industrial firms get jobs done right
— every time. Parsable provides a Connected Worker platform so employees
can collaboratively execute their work using paperless, modern, and
digital work instructions on modern mobile devices. In addition to
measuring every step and action, employees can raise issues and provide
feedback so that every process is quickly analyzed and improved. With
Parsable, teams of Connected Workers know what they need to do
and how to do it.

Parsable’s customers include Corteva, Green Chef, Schlumberger,
Scientific Drilling, Silgan, TechnipFMC, Zume, and other category
leaders in energy, industrial manufacturing, and consumer packaged
goods. Founded by veterans of Accenture, Google, Microsoft, SAP, Oracle,
and YouTube, Parsable is headquartered in San Francisco with offices in
Austin, New York, Vancouver and Dublin, Ireland.